Tether – Rating, USDT Current Price, Marketcap

Current Rating 4
Symbol USDT
Price change, 1 hour -0.03%
Price change, 24 hours -0.08%
Price change, 7 days -0.15%
Current price, USD 1.00
Market capitalization, USD: 18 645 894 347
Available supply, USDT: 18 654 483 312
Volume 24 hours, USD: 98 332 672 583

The Tether project was initiated in 2015 by the Bitfinex exchange. The main goal was the exchange of real dollars for digital currency avoiding bureaucratic difficulties in bidding, as well as barriers and bans on converting fiat to cryptocurrency. Then, the "digital dollar" was listed by the largest cryptocurrency exchange Poloniex. Traders were advised to use this option as a simplified way to switch from electronic fiat currency to digital money. Many currencies began to trade in pairs with the digital dollar.

The Tether platform is based on the Bitcoin blockchain using the Mastercoin / Omni algorithm and has all the basic characteristics of cryptocurrency. However, its implementation is controversial among users and analysts. The project provides an opportunity to convert any national fiat currency into a digital analogue at the 1:1 ratio. The exchange marker of the selected currency will receive the letter T added at the end. Users will eventually be able to quickly enter real fiat money into trading with digital currencies.

Blockchain has numerous advantages over traditional financial technologies, as it offers cheap, fast and unlimited transactions without intermediaries. However, the volatility of blockchain-based currencies’ exchange rates does not allow them to become widespread. Tether combines the technology of bitcoin with fiat currencies, which allows one to take advantage of blockchain, using a currency backed by the US Treasury or the European Central Bank. According to Reeve Collin, the project’s CEO, Tether converts the dollar into digital form and transfers this digital dollar to the blockchain.

The Tether platform allows one to convert the US dollar, euro or Japanese yen into the corresponding Tether tokens. Tether coins are 100% backed up with fiat currencies on the accounts of the company, which remain completely transparent and audited to guarantee full compliance with the declared reserves. Tether can be exchanged for the respective currencies using the platform at any time.

Tether uses the mastercoin / omni protocol to create tokens. Thanks to Omni, Tether transactions are hashed and passed through Bitcoin blockchain, where they are checked by Bitcoin-miners along with other transactions. Transfers between Tether wallets are completely free.

For many ideological fans of Bitcoin Tether is too similar to a fiat currency –  and not because of its link to the dollar. Tether is also centralized, requires permission to use and depends on the users' trust in an organization – which is the opposite to the principles on which bitcoin is based.

FxPro
24 Nov, 2020   FxProBitcoin at $100000 in 2021? Outrageous to some, a no-brainer for backers

Bitcoin investors, which include top hedge funds and money managers, are betting the virtual currency could more than quintuple to as high as $100,000 in a year. It's a wager...

FxPro
20 Nov, 2020   FxProBitcoin rebounds to $18K after crucial support level holds

Bitcoin (BTC) has seen a tremendous run, particularly since September, with BTC price surging from $10,500 to $18,400 - a rally of 75% in less than three months...

FxPro
19 Nov, 2020   FxProWhy Bitcoin price just flash crashed 6% after rejecting at $18.5K

The price of Bitcoin (BTC) dropped sharply after approaching $18,500 on Binance and Coinbase. The plunge took place as large sell orders were spotted on both spot...

FxPro
18 Nov, 2020   FxProBitcoin Slices Through $17000 as Market Cap Nears All-Time High

Bitcoin (BTC) traded above $17,000 Tuesday at 12:00 UTC for the first time since Jan. 7, 2018, according to the CoinDesk 20 price index. The rise pushes the leading...

FIBO Group
13 Nov, 2020   FIBO GroupBitcoin at $16,500

As the second wave of coronavirus spreads across the planet, interest in cryptocurrencies is increasing. To be fair, I note a significant increase in infrastructure in the...

FxPro
13 Nov, 2020   FxProImpending CME gap close could propel Bitcoin price to $18000

Within the last hour Bitcoin (BTC) price surged through the $16,200 level to secure a new 2020 high at $16,473. The 6.62% move brings the top-ranked digital asset closer...


FxPro
10 Nov, 2020   FxProBTC market cap may pass Canada's monetary base

As Bitcoin (BTC) blasted through the $14,000 level its market capitalization surpassed the monetary base of the Russian ruble. This measure includes both physical currency...

FIBO Group
6 Nov, 2020   FIBO GroupGold and BTC have noticeably increased in price

Despite the fact that there are still no final results of voting for the US presidential election, Joe Biden only needs to win in one of the four states to get the required...

FxPro
6 Nov, 2020   FxProBitcoin miner revenue surges to pre-halving levels

As the Bitcoin (BTC) price is reaching the highest levels since January 2018, Bitcoin mining is getting more profitable due to a number of factors. According to data...